Resolution Capital Ltd cut its position in Acadia Realty Trust (NYSE:AKR) by 33.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 590,039 shares of the real estate investment trust’s stock after selling 293,423 shares during the period. Acadia Realty Trust accounts for 0.9% of Resolution Capital Ltd’s investment portfolio, making the stock its 25th largest position. Resolution Capital Ltd’s holdings in Acadia Realty Trust were worth $17,737,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can increased its position in Acadia Realty Trust by 8.6% in the third quarter. Great West Life Assurance Co. Can now owns 142,313 shares of the real estate investment trust’s stock worth $5,154,000 after buying an additional 11,330 shares during the period. Texas Permanent School Fund increased its position in Acadia Realty Trust by 10.8% in the third quarter. Texas Permanent School Fund now owns 60,664 shares of the real estate investment trust’s stock worth $2,198,000 after buying an additional 5,912 shares during the period. Quadrant Capital Management LLC increased its position in Acadia Realty Trust by 0.3% in the third quarter. Quadrant Capital Management LLC now owns 22,927 shares of the real estate investment trust’s stock worth $831,000 after buying an additional 75 shares during the period. IndexIQ Advisors LLC increased its position in Acadia Realty Trust by 40.4% in the third quarter. IndexIQ Advisors LLC now owns 80,804 shares of the real estate investment trust’s stock worth $2,928,000 after buying an additional 23,261 shares during the period. Finally, BlackRock Advisors LLC increased its position in Acadia Realty Trust by 25.2% in the third quarter. BlackRock Advisors LLC now owns 41,483 shares of the real estate investment trust’s stock worth $1,503,000 after buying an additional 8,344 shares during the period.
Acadia Realty Trust (NYSE:AKR) traded up 0.69% during midday trading on Friday, hitting $27.85. The stock had a trading volume of 795,952 shares. The company’s 50-day moving average price is $29.56 and its 200 day moving average price is $31.44. The stock has a market cap of $2.36 billion, a P/E ratio of 37.99 and a beta of 0.60. Acadia Realty Trust has a 12-month low of $26.70 and a 12-month high of $38.01.
Acadia Realty Trust (NYSE:AKR) last announced its quarterly earnings results on Monday, April 24th. The real estate investment trust reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Acadia Realty Trust had a return on equity of 3.56% and a net margin of 29.38%. The company had revenue of $62 million during the quarter, compared to analysts’ expectations of $45.41 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was up 29.0% compared to the same quarter last year. On average, equities research analysts predict that Acadia Realty Trust will post $0.34 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, June 28th. This represents a $1.04 annualized dividend and a dividend yield of 3.73%. Acadia Realty Trust’s dividend payout ratio is presently 122.35%.
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AKR has been the subject of a number of recent research reports. Zacks Investment Research upgraded Acadia Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, March 31st. BMO Capital Markets reiterated a “buy” rating and issued a $36.00 target price on shares of Acadia Realty Trust in a research note on Wednesday, April 5th. Finally, TheStreet lowered Acadia Realty Trust from a “b-” rating to a “c” rating in a research note on Monday, April 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Acadia Realty Trust presently has an average rating of “Hold” and a consensus target price of $37.25.
In related news, insider Joseph Napolitano sold 7,500 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $32.17, for a total transaction of $241,275.00. Following the completion of the transaction, the insider now owns 7,618 shares of the company’s stock, valued at approximately $245,071.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wendy W. Luscombe sold 1,500 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $31.69, for a total value of $47,535.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock valued at $755,535 in the last three months. 2.22% of the stock is owned by insiders.
About Acadia Realty Trust
Acadia Realty Trust is a real estate investment trust. The Company is focused on the ownership, acquisition, development and management of retail properties located in the United States. It operates through three segments: Core Portfolio, Funds and Structured Financing. Core Portfolio and Fund properties primarily consist of street and urban retail, and dense suburban shopping centers.
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